DealerStrong Releases 2017 Special Finance Benchmark Report
Developed in partnership with ProMax Unlimited, DealerStrong’s 2017 Special Finance Benchmark Report includes metrics derived from more than 300,000 new- and used-car dealership transactions.
DealerStrong has released its annual Special Finance Benchmark Report, a tool dealers can use to compare their operations to stores and groups in the 75th percentile of subprime sales and finance. Photo courtesy SeniorLiving.org
EVANSVILLE, Ind. — Automotive consulting and training company DealerStrong has released the 2017 Special Finance Benchmark Report, powered by Promax Unlimited.
DealerStrong releases their Special Finance Benchmark Report on an annual basis. It was designed to serve as a useful comparison tool to help dealers identify areas where they could be adding more profit to their bottom line through their special finance operations. The metrics it contains are derived from over 300,000 dealership transactions and include both franchise and independent operations.
“You can only manage what you measure, so you need guides or benchmarks to give you a basis for comparison,” said DealerStrong CEO Greg Goebel. “A key in examining this report is to keep in mind that these benchmarks identify what dealers in the 75th percentile are accomplishing — not just the averages.”
DealerStrong is a national retail automotive training and consulting company that works with clients to maximize their efforts and profits in the areas of special finance, marketing, BDC, HR and accounting. The company releases this data annually to the entire industry; however, DealerStrong clients have access to ongoing and expanded proprietary data.
To download this year’s report, click here.
Originally posted on F&I and Showroom
More Dealer Ops
Dealership Profits Decline
While new and used retail sales stagnated, dealerships have been particularly supported by fixed operations and finance-and-insurance profits, according to a new report.
Read More →
Dealer Debrief: Defection Data & EV Updates
In this week's debrief, host Lauren Lawrence discusses how to use defection data to your advantage and the latest on EV sales and charging infrastructure.
Read More →
How Defection Data is Bridging the Dealership Conversion Gap
Lead volume is flat, cross-shopping is up and brand loyalty is in retreat. As confident sales teams keep losing buyers they thought they had, daily industry sales data is showing dealers exactly where their funnel is breaking and how to fix it without buying a single new lead.
Read More →
Dealer Debrief: Where are you losing customers?
In this week's debrief, host Lauren Lawrence discusses the hidden leaks in dealerships where you might be losing customers without even realizing it.
Read More →
Dealer Debrief: Improving Your Inventory Management
In this week's debrief, host Lauren Lawrence covers a new survey that shows what service technicians really want and two launches that could help improve your inventory and vehicle life cycle management.
Read More →
Ladies and Gentlemen, This Is a Dealership: Why the Fundamentals Still Decide Who Wins
A teaching moment by a legendary football coach happens to apply perfectly in the auto retail space. Learn what it is and how to use it to your store’s advantage.
Read More →
Dealer Ads and the FTC
The agency has made it clear in recent enforcement actions and warnings, in auto retail and other industries, that advertised prices must include all nonoptional costs to the consumer.
Read More →
Used Autos Supply Dwindles
The March shopping surge, despite high prices, cut into inventory by the most since the thick of the pandemic, Cox Automotive analysts calculated.
Read More →
Managing Risk Effectively Through Changing Times
The variables influencing risk pricing have changed significantly over the past five years. Being proactive and responsive to emerging trends is not optional but essential.
Read More →
Survey Reveals What Won't Fix What's Breaking Car Sales
AutoPayPlus says extra-long auto loans are trapping consumers and threatening the dealer trade-in cycle, and that the industry is leveraging the wrong tools to combat high MSRPs.
Read More →